X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ALBANY, N.Y. – New York Governor George Pataki signed two credit union bills in to law earlier this week. The State Credit Union Modernization Act (Chapter 679, Laws of 2003) gives state-chartered credit unions parity with federal credit unions in several key areas. The measure was sponsored by state Sen. Hugh Farley (R-Capital) and Assemblywoman Aurelia Greene (D-Metro). The Student Financial Education Act, sponsored by Assemblyman Ronald Tocci (D-New Rochelle) and Sen. Stephen M. Saland (R-Poughkeepsie) authorizes state-chartered CUs to open and maintain student-run CU `branches’ in schools not already within their field-of-membership. The new law reinforces credit unions’ goals to educate today’s youth in becoming financially responsible adults. Both measures were passed unanimously by the New York State Legislature earlier this session. Representing the New York State Credit Union League at the bill signing ceremony were President/CEO William Mellin, SVP/General Counsel Michael Lanotte, and Director of Governmental Affairs Amy Kramer. CUs represented at the signing ceremony including Americu CU, Hudson River Community CU, and Melrose CU.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.